Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Shares Bought by Marshall Wace LLP

Marshall Wace LLP grew its holdings in shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Free Report) by 187.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 499,492 shares of the company's stock after acquiring an additional 325,643 shares during the quarter. Marshall Wace LLP owned 0.81% of Monte Rosa Therapeutics worth $3,466,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Versant Venture Management LLC acquired a new position in Monte Rosa Therapeutics in the 4th quarter worth about $39,231,000. Vanguard Group Inc. grew its stake in shares of Monte Rosa Therapeutics by 24.5% in the fourth quarter. Vanguard Group Inc. now owns 3,156,354 shares of the company's stock worth $21,905,000 after purchasing an additional 622,134 shares during the last quarter. Norges Bank bought a new stake in shares of Monte Rosa Therapeutics in the 4th quarter valued at about $3,094,000. Geode Capital Management LLC increased its stake in shares of Monte Rosa Therapeutics by 23.3% in the third quarter. Geode Capital Management LLC now owns 1,044,689 shares of the company's stock valued at $5,538,000 after buying an additional 197,247 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Monte Rosa Therapeutics during the fourth quarter worth about $1,075,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Monte Rosa Therapeutics Stock Down 1.7 %

Shares of NASDAQ GLUE traded down $0.08 during trading hours on Thursday, reaching $4.83. 51,821 shares of the stock traded hands, compared to its average volume of 1,046,925. Monte Rosa Therapeutics, Inc. has a 52-week low of $3.21 and a 52-week high of $12.40. The company's 50-day simple moving average is $5.23 and its two-hundred day simple moving average is $6.56. The company has a market capitalization of $296.91 million, a P/E ratio of -2.66 and a beta of 1.53.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.60. The business had revenue of $14.00 million for the quarter, compared to analysts' expectations of $43.73 million. As a group, sell-side analysts forecast that Monte Rosa Therapeutics, Inc. will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wedbush reissued an "outperform" rating and set a $17.00 target price (up previously from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday, March 20th. Wells Fargo & Company decreased their target price on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Finally, Lifesci Capital started coverage on Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $19.00 target price on the stock.

Insider Buying and Selling

In other Monte Rosa Therapeutics news, Director Chandra P. Leo bought 10,000 shares of the stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $5.84 per share, for a total transaction of $58,400.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $58,400. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.50% of the stock is owned by insiders.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.